Archive for month: January, 2014

January 2014 — Presidium Group, LLC, a vertically integrated real estate investment and management firm, hosted a commissioning ceremony on January 29, 2014 for its recently installed Microturbine Combined Heat and Power (MCHP) technology. The technology was installed at Presidium’s East Dallas property, The Grove at White Rock.

Dallas dignitaries Texas House Representative Kenneth Sheets and County Judge Clay Jenkins joined Presidium for the ceremony, underscoring the importance of this pioneering technology. Both officials spoke about the significance of this installation for East Dallas and for the future of sustainability initiatives in Texas.

Presidium Group’s co-CEO John Griggs opened the event with a few remarks and highlighted the group’s portfolio-wide sustainability initiatives.

“Today’s event marks an important milestone for Presidium as we move to implement green building practices and renewable energy systems across all of our assets,” said Griggs. “As one of the first Microturbines to be installed at a multi-housing complex in Texas, Presidium Group is proud to be leading the way in implementing sustainable solutions.”

Attendance also comprised leaders from the Texas environmental community, including Rich Herweck, principal and CEO of RobustEnergy LLC; Lance Cantor, principal, RobustEnergy Metroplex; Beau Alan Follis, representative from Horizon Power Systems; and Dan Bullock, president of CleanDG Advisors and former director of the U.S. Department of Energy Gulf Coast Clean Energy Application Center.

“Horizon Power Systems is pleased to launch this partnership with Presidium,” said Sam Henry, president of Horizon Power Systems, the largest American distributor of Capstone Microturbines. “Presidium’s commitment to sustainability along with the high reliability and energy efficiency of the Capstone Microturbine technology is a winning combination for their properties and their communities.”

The new turbine will provide approximately 18% of the power demand of the property. In addition, it will produce excess heat, which will be utilized in the property’s hot water system. Presidium plans to install additional turbines and green energy solutions at this property.

MCHP systems can serve as an economic benefit for large energy users (i.e. apartment complexes and business centers) through lower energy costs as well as protection from volatile energy prices. MCHP technology can also protect the property from power outages through its onsite generation and dependability.

The technology benefits the environment by requiring less fuel to produce the same amount of energy and heat than would be used through traditional electric and hot water infrastructure.

Formally named Easton Hills, the Grove at White Rock is located at 10429 Lone Tree Lane off of Easton Road and Garland Road, near Dallas’ White Rock Lake area. The complex contains 282 units and is a newly renovated community.

About Presidium Group
Presidium Group, LLC owns and operates over 7,000 apartment units in Austin, Dallas, Houston, and San Antonio.

Its other affiliated companies include (i) Presidium Asset Solutions, which services over $350 million of participated bank debt and successfully resolved over $700 million of distressed debt in the last year, (ii) Presidium Property Management, which manages multifamily properties owned by Presidium Group as well by select third-party clients, (iii) Presidium Construction, LLC, which currently oversees in excess of $1OM of multifamily renovations and (iv) Presidium Energy, which, among other things, owns and manages over 2MW of energy from solar PV systems. For more information, visit www.presidiumre.com.

January 2014 – Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that it has received orders for two Capstone C1000s and an order for 25 Capstone C65 microturbines to be used for oil and gas production in the Permian Basin located beneath west Texas and southeastern New Mexico.

According to an October 2013 article in Investors Daily, the Permian Basin receives a fraction of the press coverage accorded the Bakken and Eagle Ford, but it has more production potential than these two shale formations combined. The Permian is not just a shale oil play, nor is it a recently developed basin. The Permian currently produces some 900,000 barrels per day of crude, about 12 percent of US oil production. Some analysts expect Permian production to more than double by 2018 to 2 million barrels per day — a level last reached during the 1970s. The Permian Basin is projected to still contain recoverable oil and natural gas resources exceeding what has already been produced. Industry experts estimate that, at current prices, more than $3 trillion worth of oil and more than $300 billion of natural gas are yet to be extracted. These projections dwarf the combined estimated reserves for the Bakken and Eagle Ford.

Horizon Power Systems secured the order for the two Capstone C1000 microturbines to be used by an independent oil and gas producer in the area. This marks Capstone’s first multiple megawatt project in the Permian Basin after previously installing multiple C30s and C65s at project sites in the region. The C1000s will replace unreliable grid service from the local utility and be used to power the client-owned electric grid. This small local grid will supply power to various well locations in addition to the field operations office. The site is expected to be commissioned in March.

Horizon Power Systems also ordered 25 Capstone C65 microturbines to expand operations for multiple existing clients in the Permian Basin. This repeat business demonstrates a high level of customer satisfaction with Capstone microturbines, helping to cement microturbine technology as a preferred option in the U.S. oil and gas industry.

“The Permian Basin currently contributes about 14 percent of the nation’s overall oil and gas production,” said Sam Henry, Horizon Power Systems President. “Horizon is pleased to continue to expand our presence in this dynamic area. This sale – the first multiple megawatt Capstone microturbine installation in the Permian Basin – follows several other C65s and C30s already in place there. Low-emission, low-noise, and low-maintenance Capstone microturbines are the go-to solution for running onsite equipment and meeting customers’ power requirements in the Permian Basin.”